US: Bacardi completes Grey Goose acquisition
Bacardi has completed its purchase of Grey Goose vodka after winning regulatory clearance from the US Federal Trade Commission. The company is now focused on quickly integrating the premium French vodka into its portfolio and will make few immediate changes to the brand management strategy used by seller Sidney Frank Importing, Bacardi Ltd chairman Ruben Rodriguez told just-drinks.com.
"Success speaks for itself," he said. "We will continue doing what they've been doing and continue growing the brand as they've been doing. It would be foolish for us to try to deviate from that successful formula and strategy."
Rodriguez declined to say how much Bacardi paid for the brand; press reports pegged the price at about US$2 bln.
Bacardi has steadily diversified its spirits line-up in recent years by adding Dewar's Scotch whisky and Bombay Sapphire gin in 1998 and Cazadores Blue Agave Tequila in 2002. The company may still be looking to fill additional gaps in its portfolio, Rodriguez said.
"We would like to do some other things, but I don't think I should comment on that at this time," he said.
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